Mumbai: Reserve Bank on Tuesday came out with a draft circular on disclosure of foreign exchange transaction cost with a view to promoting greater transparency in such dealings. RBI has invited comments on the draft circular from banks, market participants and other interested parties by January 9, 2026.

“To enhance transparency in the foreign exchange market, in January 2024, Authorised Dealers were mandated to provide the mid-market mark/bid and ask price of the foreign exchange derivative contract/foreign currency interest rate derivative contract before entering into the contract with a retail user and include the same in the deal confirmation/term sheet,” RBI said in a statement.

As a further step towards promoting greater transparency in the foreign exchange market, it is proposed

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